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Landlords Win Big: RGB Approves 7.75% Increase For Two Year Leases

Ouch!!!! This hurts. But I betcha the landlords are river-dancing down Fifth Ave. in glee:

Via NY Observer:

“Abandon hope, all ye who enter here. On Thursday night, the Rent Guidelines Board voted to jack up the rent approve rent increases of 4 percent for one-year leases and 7.75-percent for a two-year leases, as reported byThe New York Times. The decision will mean increases of $40 a month, or $480 a year for a $1,000-a-month apartment, or $960 for a $2,000-a-month apartment, twice the amount of the 2012 increases, which were capped at 2 and 4 percent respectively.”